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20110701
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. caller: donald trump wants to set went to iraq and afghanistan because they were oil-rich nations. we won the war. i don't think and buying debt these days. host: about what the question that those did contribute to the problems we are having right now. guest: everything did continue. the question is what percentage. i would disagree saying the president has tremendous leverage. he has no leverage. the democrats and the republicans and congress are going to make this deal. one or both of them are going to leave town and dump it on his lap. the poling is really unhelpful, often ends in these things. on one hand they want cuts and spending. they an over 60% want the capital plan. the president is appearing more favorable than congress. the president always does. the president's rating have been going down dramatically. because of that. because the president doesn't feel comfortable, they don't want this issue to come up again until 2012. they don't want to have this again until 2012. they want to talk about other things. we have this situation now where this debate has paralyzed the country
with a situation like 9/11 or the war in iraq or afghanistan are terrorism? what if there is unforeseen event that would force government to spend more money than it takes an? guest: the legislation would have to be written to be including situations when we get like that. i am no expert on the u.s. economy so i want to put that disclaimer out there right now. but we are spending more than we're taking in and it is not sustainable. we cannot continue down this path. when you have the medicare board of trustees coming out in the month of may and releasing a report that says, if medicare is not reformed in 2024, it will be bankrupt, it is irresponsible for washington not to do anything about their when you know you are facing this problem. we need to deal with that. we need to do some entitlement reform across the board. we cannot balance the u.s. budget by cutting discretionary spending. host: i realize that this is still coming together so the information continues to evolve. but based on what we hear this morning, it is a $1.4 trillion increase in the debt limit immediately. based on misinfo
is going to count winding down the war in afghanistan as a substantial part of the savings. that could be worth about $1 trillion over 10 years. meanwhile, john boehner is working on his own deficit- reduction debt limit increase plan. he would take -- that plan would be affected in two stages. the first would be $900 trillion or so deficit reduction package, spending cuts, paired with roughly equal amount in debt limit increase. then he would empower a special committee to find an additional $1.60 trillion to authorize or trigger another increase in the debt ceiling. the problem with this proposal, however, it would require raising the debt ceiling by the requisite $2.40 trillion amount into the stages. that is something the president and democratic leaders after yesterday's said is a nonstarter. they say it would create too much uncertainty for the marketplace and the economy if this process had to be replaced at the beginning of next year or summer of next year. >> the house republicans made their own at last it with a cap and balance plan that did not make it to the senate. the pre
Search Results 0 to 2 of about 3

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